Ramdev gets Rs 58-cr tax notice
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The income-tax department has slapped a Rs 58-crore tax demand on yoga guru Ramdev’s trusts over the sale of ayurvedic medicines. The trusts, which enjoyed tax exemption on the grounds of being charitable outfits, have challenged the I-T notice.
The I-T department had conducted a special audit of the Hardwar-based Patanjali Yogpeeth Trust, Divya Yoga Mandir Trust and Bharat Swabhiman for the assessment year 2009-10.
The notice was over Rs 120 crores which the department says was generated through commercial activities. It said the sale of medicines and ayurvedic concoctions was a commercial venture, on which there should not be any tax exemption.
The special audit was conducted after the I-T department got financial documents of investments and transactions from various banks across India in which these trusts hold accounts. The department is likely to hold further inquiries into these accounts.
Baba Ramdev’s spokesperson S.K. Tijarawala said the trusts would fight against the order, saying they had 'nothing to hide'.
He added: “Since inception we have been doing charity in terms of providing medical relief and other such activities for the needy. We have challenged the I-T department’s notice at the office of the commissioner of I-T (appeals), and we know that we will get justice.”
Baba Ramdev has been carrying on a campaign to bring back black money stashed in foreign bank accounts to India.
He had recently joined hands with anti-corruption crusader Anna Hazare.
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